Vancouver, British Columbia / TheNewswire / December 18, 2017
- – Executed secured loan facility with Trafigura for US$15 million for Tahuehueto mine construction.
– Funding enables construction of mineral processing facility, related mining facilities, plus infrastructure and underground development at Tahuehueto
– Funds Available to the Company in Three Tranches According to Development Progress and certain conditions with first tranche of US$7.5Mn already received in Telson?s bank account.
– The Offtake Agreements are for 100% production of zinc (Zn) and lead (Pb) concentrates with a minimum annual fixed tonnage, starting delivery in January 2018 and ongoing until December 2022
Telson Resources Inc. (“Telson” or the “Company”) (TSX Venture – TSN.V) is very pleased to announce it has entered into a Loan Facility and Offtake Agreement with Trafigura Mexico S.A. de C.V. (“Trafigura”), a market leader in the global commodities industry, to sell 100% of the lead and zinc concentrate produced at the Tahuehueto Mine from January 1st 2018 to December 31st 2022. Trafigura has provided Telson with a credit facility of US$15 million thereby securing the capital requirements to construct and operate an ongoing 1,000 tonne per day mining operation at Tahuehueto. The Signing Date was on December 7, 2017.